Signalized Commercial Land with
For Sale
$1,390,000
6940 Montgomery Blvd NE, Albuquerque, NM 87109
MX-M-zoned redevelopment site with existing retail, canopy, car wash, signage, and multiple right-in/right-out access points.
Property Size2,800 SF
Price / SF$496.43
Days on Market98
Property Features for 6940 Montgomery Blvd NE
General Information
Standard status
Active
Size
2,800 SF
Total Parking Spaces
13
Property subtype
Retail
Zoning
MX-M
Amenities
Drive-Thru
13 Parking Spaces
Building Details
Year Built
1996
Listing Agency:
Edwards Commercial Realty, LLC
(505) 998-7298
Listed By:
Mark Edwards · License #11748
(505) 998-7298
Source:
Carnm.resimplifi
Added: May 26
Changed: Aug 31
Last Checked: Aug 31 at 6:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Edwards Commercial Realty, LLC
Investment Insights
Based on property information with market context.
This commercial land offering includes a 30,500 SF pad site with existing improvements suited to redevelopment or reuse. The property contains a 2,800 SF former convenience store building, an approximately 2,800 SF canopy, an adjoining 1,300 SF car wash structure, and two large pylon signs. The site measures approximately 175 feet by 175 feet and is zoned MX-M, supporting commercial uses identified in the property information, including drive-through food or coffee, a gas station, car wash, and bank concepts.
Positioned at a signalized intersection along Montgomery Blvd., the property is near a freestanding Smith’s Foods location and receives exposure to an intersection area with reported traffic of 53,000 vehicles per day. Access includes two right-in/right-out points on Louisiana and one right-in/right-out point on Montgomery. Gas infrastructure removal has been completed, with environmental clearance noted.
Positioned at a signalized intersection along Montgomery Blvd., the property is near a freestanding Smith’s Foods location and receives exposure to an intersection area with reported traffic of 53,000 vehicles per day. Access includes two right-in/right-out points on Louisiana and one right-in/right-out point on Montgomery. Gas infrastructure removal has been completed, with environmental clearance noted.
Key Highlights
- 30,500 SF commercial pad site with redevelopment potential
- 2,800 SF former convenience store plus approximately 2,800 SF canopy
- Adjoining 1,300 SF car wash structure and two large pylon signs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,376
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$947,520
$947.5K
Cap Rate 7%
$676,800
$676.8K
Cap Rate 9%
$526,400
$526.4K
Market Conditions
NOI Build-Up for 2,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$67.2K $24.00/SF
− Vacancy
−$4.0K −$1.44/SF
EGI
$63.2K $22.56/SF
− OpEx
−$15.8K −$5.64/SF
NOI
$47.4K $16.92/SF
Area
Albuquerque, NM
Vacancy
6.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$947,520
Cap Rate 7%
$676,800
Cap Rate 9%
$526,400
Alternative Uses
Best Use
Specialty Retail
$676.8K
$592.2K – $789.6K
NOI $47,376 @ 7.0% cap · market cap 3.41%
Second Best
Retail
$575.0K
$503.1K – $670.8K
NOI $40,249 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$677.4K
$592.7K – $790.3K
NOI $47,416 @ 7.0% cap · market cap 3.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
746
Businesses Nearby
56k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 64%
Shops & Services 36%
Smith's
Groceries
35,518 visits/mo
0.1 miles
Phillips 66
Shops & Services
10,923 visits/mo
0.0 miles
Circle K
Shops & Services
5,952 visits/mo
0.1 miles
H&R Block
Shops & Services
1,322 visits/mo
0.1 miles
Jiffy Lube
Shops & Services
1,030 visits/mo
0.5 miles
Demographics for 87109, NM
40,740
Population
20,826
Households
2
Avg Household Size
41
Median Age
42%
College-Educated
93%
High-School Grad
10.0 sq mi
ZIP Area
4,074
Density / Sq Mi
$56,295
Median Household Income
$41,798
Median Earnings
$1,112
Median Rent
$298,300
Median Home Value
Market
Vacancy Rate% for Retail in Albuquerque, NM
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - MX-M-zoned redevelopment site with existing retail, canopy, car wash, signage, and multiple right-in/right-out access points.
Where is this commercial land located?
The property is located at 6940 Montgomery Blvd NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: 30,500 SF commercial pad site with redevelopment potential; 2,800 SF former convenience store plus approximately 2,800 SF canopy; Adjoining 1,300 SF car wash structure and two large pylon signs
